Canaccord Genuity Group Cuts Artivion (NYSE:AORT) Price Target to $48.00

Artivion (NYSE:AORT) had its price objective decreased by investment analysts at Canaccord Genuity Group from $51.00 to $48.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 35.86% from the company’s current price.

A number of other brokerages have also weighed in on AORT. Citizens Jmp increased their price objective on Artivion from $47.00 to $53.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artivion in a research report on Wednesday, January 21st. Oppenheimer reiterated an “outperform” rating and issued a $50.00 target price on shares of Artivion in a research report on Friday, November 7th. Wall Street Zen cut Artivion from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $58.00 price objective on shares of Artivion in a report on Monday, February 2nd. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.69.

Artivion Stock Down 13.1%

Artivion stock traded down $5.32 during mid-day trading on Friday, reaching $35.33. 836,576 shares of the company were exchanged, compared to its average volume of 344,152. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.88 and a current ratio of 3.93. The firm has a market cap of $1.67 billion, a P/E ratio of -147.94 and a beta of 1.59. The business has a fifty day moving average of $43.76 and a 200 day moving average of $42.75. Artivion has a 12-month low of $21.97 and a 12-month high of $48.25.

Artivion (NYSE:AORT) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $118.30 million during the quarter, compared to analyst estimates of $116.42 million. Artivion had a negative net margin of 2.16% and a positive return on equity of 5.98%. The firm’s revenue was up 19.2% on a year-over-year basis. Research analysts anticipate that Artivion will post 0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO James P. Mackin sold 30,921 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $45.56, for a total value of $1,408,760.76. Following the sale, the chief executive officer directly owned 800,993 shares in the company, valued at approximately $36,493,241.08. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amy Horton sold 6,000 shares of Artivion stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $45.73, for a total value of $274,380.00. Following the completion of the transaction, the chief accounting officer owned 135,380 shares of the company’s stock, valued at $6,190,927.40. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 128,448 shares of company stock worth $5,793,361 over the last 90 days. 7.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Artivion

Institutional investors have recently modified their holdings of the company. Kennedy Capital Management LLC boosted its position in shares of Artivion by 20.8% during the 2nd quarter. Kennedy Capital Management LLC now owns 367,762 shares of the company’s stock worth $11,437,000 after acquiring an additional 63,205 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Artivion in the 2nd quarter valued at $664,000. Oppenheimer Asset Management Inc. acquired a new position in Artivion in the second quarter valued at $669,000. Atria Investments Inc purchased a new stake in Artivion during the 2nd quarter valued at approximately $244,000. Finally, Osterweis Capital Management Inc. purchased a new position in Artivion in the 2nd quarter valued at $3,750,000. 86.37% of the stock is owned by hedge funds and other institutional investors.

About Artivion

Artivion, Inc (NYSE: AORT) is a global medical technology company that develops, manufactures and markets implantable tissue products and surgical devices for cardiac and vascular surgery. The company’s portfolio includes biologic implants derived from human and animal tissue, such as allografts and xenografts, as well as synthetic scaffolds and surgical adhesives. These products are designed to repair, reinforce or replace damaged cardiovascular and thoracic tissues during procedures such as aortic repair, heart valve surgery and vascular reconstruction.

Originally founded in 1984 under the name CryoLife, the company rebranded as Artivion in early 2022 to reflect its broader mission in cardiovascular innovation.